Orion Money — opening the stablecoin savings gateway into Anchor Protocol

Yields on Certificate of Deposits across different maturities, 2010–2021 | Source: FRED

Evolution of the money market

Then came along the Decentralize Finance (“DeFi”) revolution, which saw decentralized money markets gaining huge traction. DeFi has been the name of the game for the past year and experienced record-breaking Total Value Locked (“TVL”) growth in just under a year. DeFi expanded the use of blockchain from simple value transfer to more complex financial use cases and aimed to disrupt the key elements of work done by centralized financial institutions. DeFi’s TVL, which sat just under $1 Billion in May 2020, has, at its peak, grown to an $87 Billion market in March 2021.

Stable and high-yielding deposit rates on Anchor Protocol

The DeFi market needed a fixed-income solution — the ability to provide accessible, safe, stable, and attractive yields for the main street investor, even in the most severe moments of market volatility.

Gaps to be resolved in the stablecoin savings market

The attractive and low volatile lending yields on Anchor are currently only accessible to Terra stablecoin (UST) depositors. Users with stablecoins on other blockchains are not able to have direct access to Anchor. As a result, we have identified two prevailing gaps that we seek to tackle:

  1. There is a huge stablecoin market that lacks direct access to Anchor’s money market protocol. As of May 2021, the stablecoin market cap reached a key milestone of $100 Billion. However, >85% of the stablecoin market cap is dominated by the top 3 Ethereum-based stablecoins (USDT, USDC, DAI). The Terra stablecoin (UST), while fast-growing, currently makes up ~2% of the entire stablecoin market. A gateway that bridges these stablecoins into Anchor immediately opens the protocol up to a much wider user base with a greater volume of liquidity.
Cumulative stablecoin market capitalization | Source: Blockchaincenter.net

Launching the stablecoin savings gateway to Anchor Protocol

Enter Orion Money.

Launching the gateway for stablecoins on other blockchains to access Anchor Protocol.

We are removing the barriers that are currently limiting stablecoins on other blockchains to flow into Anchor. We are as excited as you are to enable the possibility for Ethereum-based stablecoins such as USDT, USDC, and DAI to experience the stable and high-yielding deposit interest rates offered by Anchor.

APY levels across different tiers for Orion Money — Earth, Station, and Moon

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Orion Money

Orion Money

Orion Money's vision is to become a cross-chain stablecoins bank - the best place in DeFi for stablecoin saving, lending, and spending. Check www.orion.money